M&A News Gives Bulls More Momentum

9:10am (EST)

Futures were pointing towards a lower open last night after South Korea ran a few military drills over the weekend. Although North Korea said it would not retaliate after South Korea’s artillery tests, things were touchy but seem to calm down after the North’s willingness to permit United Nations nuclear inspectors to return.

Mergers and acquisitions (M&A) here at home have helped futures turn green as AT&T (T, $29.21, down $0.02) said it would buy wireless spectrum from Qualcomm (QCOM, $49.46, down $0.19) in a deal worth $2 billion to help buildout its high-speed network.

Elsewhere, EarthLink (ELNK, $8.98, down $0.04) made a bid for One Communications for $370 million, and Raytheon (RTN, $45.17, down $0.22) said it would acquire Applied Signal Technology (APSG, $35.02, up $0.73) for $490 million.

There was also some good news for retailers as comScore said U.S. online sales are up 12% to $27.5 billion so far this season compared with a year ago.

We have a lot to cover this morning inside our Members Area and we will be releasing the latest training video for our manual “How to Trade Options on Momentum Stocks” in a few hours. The video is a little over 20 minutes and we cover a number of possible earnings trades but only walked away with one candidate which we profile on our Watch List.

As we head to press, Dow futures are up 30 points while S&P futures are up 5 points. The Nasdaq 100 futures are higher by 10 points. Subscribers, check for the important updates and watch Chesapeake Energy (CHK, $23.30, down $0.27) today.

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M&A News Gives Bulls More Momentum

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